News
Termination of BMA Service 1
Thursday, September 08, 2022

Dear Bit Trade Users,

We would like to inform you that on September 8, 2022, the profitability of the last BMA Contract in the Bit Trade Mining Accelerator Service, version 1.0, reached its maximum value. However, due to the nature of the Service, it will take some more time to close these BMA Contracts and credit Bitbon units to the Contract Account. This means that in the next few days BMA Service 1 will be terminated.

The following statistics were generated based on the operation of BMA-1:

  1. The Service was launched on October 10, 2020, and lasted 698 days.
  2. BMA Service 1 was used by 3,905 Bit Trade Users.
  3. For the entire period of the Service, the Users opened 156,180 BMA Contracts.
  4. The maximum number of BMA Contracts opened by one User was 565.
  5. BMA-1 to Bitbon index growth was 5,707% for the entire period of the Service.
  6. The maximum total profitability in Bitbon units obtained by the User as a result of active participation in BMA-1 was 178.09%.

These statistics clearly show the high results obtained by the Users, who participated in BMA-1. This in turn demonstrates the effectiveness of services provided by the Company, participation in which allows our Users to steadily increase their capital.

In order to further increase their assets, Bit Trade recommends its Users to participate in providing by becoming a Bitbon System Provider with the role of a Registrator.

The Next Stage of Providing Development
Wednesday, September 07, 2022

Dear Bit Trade Users,

According to the news publication on the official information resource of the Bitbon System, a 34-day preparation period of the providing service functioning in the Bitbon System will begin on September 7, 2022.

During this time, Bitbon System Providers being Registrators will be able to select an Assetbox, which will be identified as the Assetbox for providing in the accounts of the Bitbon System Users after the preparation period. For this purpose, an algorithm has been developed to reorganize the structure of Registrator pools in the Bitbon System. If a User has one Assetbox of a Registrator registered at the beginning of the preparation period, it will be automatically selected for using in providing after the end of the preparation period. If a User has several registered Assetboxes of a Registrator, the algorithm will by default select an Assetbox that meets the following criteria:

  • the Assetbox that was the first connected to the Registrator pool and has not been deleted;
  • the balance of the selected Assetbox is equal to or higher than 0.001 bitbons.

As part of the preparation period, Users can change the Assetbox that was automatically selected by the algorithm. Bit Trade Users, who have access to their Assetboxes participating in providing through the specialized service, should go to the “Connect to Providing” or “My Assetboxes” page in the “Sell Bitbons” section on the Bit Trade website. There will be a graphic element, a “bar”, which displays already selected Assetbox. If the Assetbox was selected in the One Space service, information about it will be displayed in the bar. On the same page, the User will be able to select another Assetbox, which will be defined to be used in providing after the end of the preparation period.

At the end of the preparation period, a special algorithm will reorganize the structure of Registrator pools in the Bitbon System from among Assetboxes selected by Users to be used in providing in accordance with the following principles:

  • Assetboxes selected to be used in providing will be reconnected to the higher Assetboxes selected by other Users in accordance with the current structure of Registrator pools in the Bitbon System;
  • other Assetboxes of Registrators that were used in providing and were not selected during the preparation period will be excluded from the structure of Registrator pools of the Bitbon System.

We recommend that before the preparation period is over you decide which Assetbox you would like to connect to the Registrator pool and use in providing. After the preparation period, the providing service will be transitioned to a model of account-based functioning.

Completion of the Prize Season Promotion
Thursday, August 11, 2022

Dear Bit Trade Users,

On August 10, 2022, at 23:59:59 (Kiev time) the unique Prize Season promotion from Bit Trade within the Investbox service was completed.

The recorded results turned out to be significantly lower than we had expected when we launched this promotion. We understand that such results are due to the events taking place both in Ukraine and around the world, which is why the Company’s Partners who are located in Europe and the CIS were not able to fully participate in the promotion.

Furthermore, we announced a special gala event for the Partners who took part in the “Prize Season” where the award ceremony and presentation of the Company’s new products were supposed to take place. Unfortunately, due to force majeure caused by factors beyond the control of the organizer, in accordance with paragraph 6.1 of the Terms and Conditions of Participation in the “Prize Season” Promotion, it is impossible and logistically unfeasible to hold this event.

Bit Trade, as always, takes care of its Partners, so it was decided that despite the circumstances all the winners of the promotion will receive deserved prizes. Please note that all the prizes will be converted into money value, this amount will be doubled and converted into Bitbon units at the rate on the day of the completion of the promotion.

Thus, within three days after the completion of the promotion, all winners will receive the equivalent of prizes expressed in Bitbon units to their Main Balances.

We recommend that Bitbon units received as prizes for participating in the “Prize Season” promotion be used in the base services of the Bitbon System in order to further increase your capital.

We would like to inform you that as of August 11, 2022, the system for distribution of remuneration to Strategic Partners for selling certain IB packages of the Investbox service will be changed:

Providing IB Package

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Bit Trade Liquidity Staking IB Package

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We recommend that Strategic Partners take advantage of this period to increase sales volume in order to receive increased remuneration on current terms and conditions.

We would like to thank our Partners for their understanding and support in the development of the Bitbon System, as well as services of the Bit Trade website.

Update of the Bitbon Software Specification
Friday, July 29, 2022

Dear Bit Trade Users,

We would like to inform you that Bit Trade has published an updated document “Bitbon Software Specification”, received from Simcord as a software developer. This Specification confirms the origin of the Bitbon software, its authenticity and compliance with the software’s technical requirements and standards.

Thus, in accordance with the received Specification:

  • Bitbon is a key element of the Bitbon System infrastructure, which is software in the form of code for activating the base services of the Bitbon System using Bitbon units as a component of this software.
  • Bitbon units are a component of the Bitbon software and an instrument for determining the scope of access to specific functions of the base services of the Bitbon System, determined by the number of such units.

The software specification identifies Bitbon units that are part of the Bitbon software as an object of accounting and allows business entities to record Bitbon units on the balance sheet as an intangible asset (IA) for the purposes of accounting in accordance with International Financial Reporting Standards (IAS 38). Moreover, business entities can use this document in their commercial activities when performing transactions with Bitbon units, in particular, as an Annex to the Bitbon Software Purchase and Sale Agreement.

You can read the Bitbon Software Specification at the following link: https://s3.eu-central-1.amazonaws.com/files-bittrade/pdf/site/bitbon-software-specification.pdf

Replenishment and Transfer from the Main Balance Using Tether (USDT)
Wednesday, July 27, 2022

Dear Bit Trade Users,

We would like to inform you that a scheduled update of the Bit Trade website took place today.

Now in your Account, you can replenish and transfer funds from the Main Balance using the Tether (USDT) cryptowallet. Thus, all Users will be able to quickly and easily make transactions using one of the three Tether token standards: ERC20, TRC20 and OMNI.

Tariffs and fees:

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We understand how important and necessary this functionality is, and we are sure that this will increase the level of accessibility of the services provided on the Bit Trade website and expand payment options for Users.

The Company intends to continue developing the Bit Trade website, increase the number and quality of available services as well as provide the most favorable conditions for transactions with the Bitbon digital asset.